NEW YORK, NY – VegaX Holdings (“VegaX”), the cryptocurrency index platform providing actionable cryptocurrency indexes and index-based asset management products for traditional investors globally, announced the firm’s first acquisition of South Korean based artificial intelligence (AI) FinTech company, Cinnamon Labs (“CL”). As the crypto market continues to see significant growth and innovation, VegaX’s acquisition is a timely indicator of the continued growth of the industry and the outstanding technical challenges the crypto market presents.

CL is one of South Korea’s premier wealth management platforms with a strict focus on AI, big data, and machine learning (ML) technologies to create portfolio solutions for both traditional market assets and most recent, crypto market assets. The company’s management team and founders tout significant financial technology experience with doctorate level education across AI, machine learning, and quantitative trading. “Our interest in working with CL was a synergistic combination of the management team’s expertise in core emerging technologies, trading and the passion that team had for merging the worlds of financial services with the future of digital assets and blockchain,” noted VegaX CEO, Sang Lee,” We look forward to continuing to build the future of finance with the CL Team and welcome the team to VegaX.” This acquisition marks the first in it’s kind, with a United States based digital asset platform acquiring an AI and ML focused FinTech company based in South Korea.

The need for advanced structured crypto products to support the growth of the crypto market continues to be on the rise as the crypto market capitalization recently exceeded $3 Trillion USD. As institutions and funds increase their allocations to the crypto market, advanced product structures capable of responding to crypto market volatility are of increasing importance. The announcement of this acquisition reflects the increased demand for technically sophisticated crypto products to cater to the growing needs of larger funds and institutions. “We are excited to continue to work with VegaX to create more fintech solutions to support the next phase of evolution in the global digital asset markets,” noted Raehyun Kim, CEO of Cinnamon Labs.

VegaX plans to release new crypto index products and portfolio rebalancing engine optimizations through 2022. The company recently released a Solana strategy, VSOL, and an NFT strategy, VNFT, to provide clients with additional portfolio rebalancing opportunities and access to different verticals across the crypto market. VegaX crypto products provide clients with 25% – 50% APY, depending on specific strategies, providing attractive opportunities for institutions and funds. 

To learn more or schedule a consultation, visit: https://www.vegaxholdings.com

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About VegaX Holdings

VegaX Holdings (VegaX) is a cryptocurrency index platform providing actionable cryptocurrency indexes and index-based asset management products for traditional investors. Established in 2019, VegaX creates next-generation indexes and financial products that are needed to support the growth of the cryptocurrency industry and improve returns for investors worldwide. Headquartered in New York, NY and Seoul, South Korea, VegaX has a globally distributed team passionate about building infrastructure to support the next generation of digital assets. Better Indexes, Better Returns – VegaX https://vegaxholdings.com

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Company Name: VegaX
Contact Person: Natasha Bansgopaul
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Phone: 212-457-8974
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Website: https://vegaxholdings.com/